SEC Form 4 · accession 0001213900-18-004109

LiveOne, Inc. · LVO

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Robert S Ellin

Officer — CEO and Chairman · Director · 10% Owner

Period of report

Mar 28, 2018

Accepted (ET)

Apr 5, 2018 · 9:55 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001491419

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock	Mar 29, 2018	P	500	$3.7975	A	16,200	D
Common Stock	Mar 29, 2018	P	600	$3.7983	A	16,800	D
Common Stock	Mar 29, 2018	P	1,500	$3.80	A	18,300	D
Common Stock^{F1,F2,F3,F4,F5}	Mar 28, 2018	P	1,000	$3.80	A	17,332,130	I	See Footnotes
Common Stock^{F1,F2,F3,F4,F5}	Mar 29, 2018	P	400	$3.7999	A	17,332,530	I	See Footnotes

Table II — derivative securities

No Table II lines on this filing.

Explanation of responses

F1These shares were purchased by Trinad Capital Master Fund, Ltd.
F2Includes (i) 6,862,420 shares of the Issuer's common stock (the "Common Stock") owned by Trinad Capital Master Fund, Ltd. ("Trinad Capital"), as the Reporting Person, the Managing Director and Portfolio Manager of Trinad Capital, is deemed to have sole voting and dispositive power over such shares, (ii) 716,216 shares of Common Stock owned by Trinad Capital Management, LLC ("Trinad Management"), as the Reporting Person, the Managing Member of Trinad Management, is deemed to have sole voting and dispositive power over such shares, (iii) 6,814,210 shares of Common Stock owned by JJAT Corp. ("JJAT"), an entity owned by the Reporting Person, as the Reporting Person is deemed to have sole voting and dispositive power over such shares, (continued to footnote 3)
F3(continued from footnote 2) (iv) 1,213,210 shares of Common Stock owned by the Robert Ellin Profit Sharing Plan (the "Profit Sharing Plan"), as the Reporting Person, the trustee of the Profit Sharing Plan, is deemed to have sole voting and dispositive power over such shares, and (v) 1,726,474 shares of Common Stock issuable upon conversion of the Issuer's convertible notes held by Trinad Capital, which Trinad Capital has the right to convert at the conversion price of $3.00 per share as a result of the Issuer's public offering completed on December 27, 2017. Accordingly, securities owned by these entities may be regarded as being beneficially owned by the Reporting Person.
F4Each of the Reporting Person and Trinad Management disclaim beneficial ownership of the reported securities except for the (i) Reporting Person's and Trinad Management's pecuniary interest therein, (ii) direct beneficial ownership of Trinad Management as reported herein, (iii) indirect interest of Trinad Management by virtue of being the Managing Director and Portfolio Manager of Trinad Capital, (iv) indirect interest of the Reporting Person by virtue of being a member of Trinad Management, (v) indirect interest of the Reporting Person by virtue of being a shareholder of JJAT, and (vi) indirect interest of the Reporting Person by virtue of being a member of Trinad Capital. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
F5Does not include 4,496,962 shares of Common Stock held by a family trust and family foundation as to which the Reporting Person does not exercise voting or dispositive power.